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REAL ESTATE

Real estate market hit hard by mass departure of expats
July 11, 2018

The exodus of expatriate workers from Saudi Arabia has negatively affected the country’s real estate sector with a considerable fall in rent prices.

Many property owners were forced to reduce their rents to attract clients and ensure liquidity. Market analysts expect further falls in prices in the coming months.

According to the General Authority of Statistics (GaStat), 234,200 expatriate workers have left the Kingdom in the first"...

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Ministry: 412,000 benefit from ‘Sakani’ program in 17 months
June 20, 2018

The Ministry of Housing has disclosed the names of the sixth batch of beneficiaries of ‘Sakani’ (My Residence Program).

The ministry said the number of beneficiaries in the 6th batch has reached 23,769. These include applicants for free plots of land, real estate loans and housing units under construction.

This brings the total number of beneficiaries in the Sakani Program, which was launched in February 2017, to nearly 412,000"...

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6th batch of Saudi Sakani housing program launched
June 17, 2018

The Housing Ministry and the Real Estate Development Fund (REDF) on Saturday announced the launch of the sixth batch of the Sakani (Housing) program.
The batch’s 23,769 products include housing units under development in partnership with qualified real estate developers; free land; and real estate loans supported by a partnership between the REDF and financial institutions.
The program aims to give citizens the opportunity to own properties, improve"...

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